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Maybank's Financial Relief Scheme


Updated as of 23 March 2023:

Dear valued customers,

As the economy continues to recover, we understand that many businesses and individuals may still require financial support, and we are committed to assist you. In addition, you may also find applicable relief programmes as below to assist you in time of need.

 

 

Maybank Repayment Assistance Plans

As the economy and businesses recover, we understand that there may be customers who still require assistance. We are pleased to offer the below Maybank Repayment Assistance to both our individual and SME customers.

For customers who are experiencing at least 50% reduction of income AND meet our eligibility criteria, we are offering the following:



Package 1:

  1. Reduction of 50% instalment for 6 months

Applicable for:

  1. Mortgage Loan/Financing-i
  2. Salary Loan/Financing-i
  3. ASB Loan/Financing-i
  4. Education Loan/Financing-i
  5. SME Loan/Financing-i
  6. Hire Purchase Loan/Financing-i

Package 2* (For Credit Card/Credit Card-i only):

  1. Conversion of outstanding balance into instalment programme of 36 months

For customers who are experiencing loss of employment AND meet our eligibility criteria, we are offering the following:



Package 3:

  1. 6 months deferment of payment + reduction of 50% instalment for 9 months

Applicable for:

  1. Mortgage Loan/Financing-i
  2. Salary Loan/Financing-i
  3. ASB Loan/Financing-i
  4. Education Loan/Financing-i
  5. SME Loan/Financing-i

Package 4* (Applicable for Hire Purchase Loan/Financing-i only):

  1. 6 months deferment of payment + extension of tenure

*Applicable to individual customers only.



Eligibility


These packages are applicable to our individual and SME customers who have experienced:

  1. at least 50% reduction in income; OR
  2. loss of employment; OR
  3. Drop in revenue (For SME customers only)

AND meet all of the criteria below:

  1. Not under an existing repayment assistance programme (e.g. URUS, Targeted Repayment Assistance, PEMERKASA Plus, PEMULIH, Bank’s own rescheduling and restructuring, etc.) as at the date of application
  2. Whose loan/financing is still performing (not in arrears for more than 90 days) as at the date of application
  3. Whose loan/financing is disbursed on or before 30 September 2021

How to apply


Kindly ensure that you have the necessary documents attached in the email application.
Click here to view the documents required.

  1. For Individual customers, email us at weassist@maybank.com
  2. For SMEs, email us at smerelief@maybank.com

More Details


 

 

Revision of Monthly Instalment

We understand that there may be customers who require assistance due to the increase in monthly instalment amount, arising from the loan/financing rate changes.

For individual customers who meet our eligibility criteria, we are pleased to offer the following:



Package 1:

  1. Retain the previous monthly instalment amount; OR

Package 2:

  1. Reduce the monthly instalment to a value lower than the previous amount (supporting documents are required in your email application)

Kindly note that both package options may result in an extension of your loan/financing tenure.

At any point in time, you have the option to increase your monthly instalment amount and your loan/financing tenure will then be adjusted accordingly.


Applicable for:

  1. Mortgage Loan/Financing-i
  2. Personal Loan/Financing-i
  3. ASB Loan/Financing-i
  4. Education Loan/Financing-i



Eligibility


For individual customers whose:

  1. loan/financing are under Base Lending Rate/Base Financing Rate or Base Rate/Islamic Base Rate; AND
  2. loan/financing is fully released and instalments are in services


How to apply


Kindly email us at weassist@maybank.com. If you wish to request for a reduction from the current monthly instalment amount, please ensure that the required documents are included in your email application.


Click here to view the documents required.


More Details


 

 

Flood Relief Assistance Programme (FRAP)

We're offering Flood Relief Assistance to aid our customers who were affected by the floods recently.

The Flood Relief Assistance is designed to address the challenges the flood victims are facing and will include, amongst others, deferment of financing/loan repayment, a reduction in monthly instalments, or an extension of repayment tenure. The Flood Relief Assistance is open to all individual, SME and other non-retail customers.

Here are the packages available under this Flood Relief Assistance:



Term Loan/Financing:

  1. 6 months repayment deferment, and the followed by 50% instalment payment for the next 9 months on a case to case basis.
  2. Waiver of penalties charges during the relief period.

Auto Finance:

  1. 6 months repayment deferment, plus extension of repayment period on a case to case basis.
  2. Waiver of penalties charges during the relief period.

Credit Card:

  1. Waiver of all card replacement fees for cards damaged in the floods.

Overdraft (OD)/Cashline-i:

  1. Deferment of 6 months interest. To capitalise the accrued interest/profit and excess by increasing the limit accordingly. The accrued interest/profit is to be paid down by monthly reduction for 12 months equally, starting from 6 months after the deferment period ended.
  2. Deferment of OD reduction programme/sinking fund for up to 6 months.

Trade Lines/Financing:

  1. Deferment on Trade reduction/sinking fund for up to 6 months.
  2. Extension of Trade Bill tenure for up to 6 months, from the maturity date of each bill effective 01 Mac 2023 and not later than 30 Sep 2023.
  3. Matured Bankers Acceptance (BA)/Murabahah Trust Receipts (MTR) to be converted into Invoice Financing (IF). Current pricing is as follows:
    i. Acceptance commission to charge at Cost Of Fund (COF)/Islamic Cost Of Fund (ICOF) for BA conversion to IF.
    ii. BLR/BFR will remain.



How to apply


If you’ve been affected by the flood, kindly apply for the Flood Relief Assistance using one of these two channels:


1. Send an email to floodrelief@maybank.com and include the following details:


For individual customers

  • Name
  • IC number
  • Contact number
  • Type of loan/product (e.g. Term Loan/Financing, Auto Finance, Credit Card)
  • Loan/financing account number
  • Vehicle number (for Hire Purchase)
  • Address of impacted property
  • Include your chosen package

For SME/companies

  • Name
  • Company name
  • Business registration number
  • Contact number
  • Type of loan/product (e.g. Term Loan/Financing, Auto Finance, Credit Card)
  • Loan/financing account number
  • Vehicle number (for Hire Purchase)
  • Address of impacted property
  • Include your chosen package

2. Visit or call any of our branches, SME Centres, Business Banking Centres or Auto Finance Centres (whichever is relevant) nationwide.


We will evaluate all applications on a case-by-case basis.

Additionally, we are also offering a waiver of fees and charges for selected services, such as replacement of debit card, ATM cards and cheque books lost or damaged during the floods.

If you have an Etiqa insurance policy or takaful certificate, you can also quickly and easily submit your claims without any forms or supporting documents.

To submit a claim, kindly WhatsApp or call Etiqa on the hotlines below:


WhatsApp Etiqa’s dedicated 24-hour numbers a text message with your photos or videos of the flood

  1. Kuala Lumpur, Selangor, Perak, Kedah, Penang, and Perlis:
    011-1630 6646
  2. Kelantan, Terengganu, Pahang, Johor, Melaka, Negeri Sembilan, Sabah and Sarawak:
    018-226 3288


Call Etiqa’s Flood Claims Careline

  1. Kuala Lumpur, Selangor, Perak, Kedah, Penang, and Perlis:
    03-2692 8188
  2. Kelantan, Terengganu, Pahang, Johor, Melaka, Negeri Sembilan, Sabah and Sarawak:
    03-4270 7735 / 03-4270 5068

 


More Details


Supporting documents required for URUS application via Maybank2u

Unemployed

  • Any one (1) of the following documents:

  1. EPF statement (2020 & 2021); OR
  2. Income Tax for Year of Assessment 2019 & 2020; OR
  3. Bank Statements (latest 6 months); OR
  4. Letter of termination / retrenchment from previous employer

 

Employed with reduction in income

  • Any one (1) of the following documents:

  1. EPF statement (2020 & 2021); OR
  2. Income Tax for Year of Assessment 2019 & 2020; OR
  3. Latest 1 month salary slip in 2021 & any 1 month salary slip in 2020; OR
  4. Confirmation letter from your employment

 

Self-Employed with reduction in income

  • Any one (1) of the following documents:

  1. Bank Statements reflective of 50% income reduction in the past 2 years; OR
  2. Income Tax for Year of Assessment 2019 & 2020

 

Self-Employed whose business has stopped operating

  • Any one (1) of the following documents:

  1. Bank Statements reflective of reduced / loss of income in the past 2 years; OR
  2. Income Tax for Year of Assessment 2019 & 2020

 

Supporting documents required for Maybank Repayment Assistance application

1. For customers who are experiencing at least a 50% reduction in income:

 

Individual Customers

 

Employed with reduction in income

  • Any one (1) of the following documents:

  1. Latest 1 month salary slip AND any 1 month salary slip prior to reduction of income; OR
  2. EPF statement (2019 AND latest EPF statement); OR
  3. Income Tax for Year of Assessment 2019 AND latest Income Tax Assessment; OR
  4. Letter from your employment confirming reduction of income

 

Self-Employed with reduction in income

  • Any one (1) of the following documents:

  1. Bank Statements reflective of at least 50% income reduction in the past 2 years; OR
  2. Income Tax for Year of Assessment 2019 AND latest Income Tax Assessment
  3. Statutory Declaration Form (SD) sign and witness by Commissioner for Oaths.

 

SMEs

 

  • Any one (1) of the following documents:

  1. Latest 3 month Bank Statements; OR
  2. Latest financial statement of the business

 

2. For customers who are experiencing loss of employment

 

Individual Customers

  • Any one (1) of the following documents:

  1. Latest Letter of Termination/ Retrenchment; OR
  2. Statutory Declaration Form (SD) sign and witness by Commissioner for Oaths; OR
  3. EPF statement (2019 AND latest EPF statement); OR
  4. Bank Statements (latest 3 months)

 

Self-Employed whose business has stopped operating

  • Any one (1) of the following documents:

  1. Bank Statements reflective of reduced / loss of income in the past 2 years; OR
  2. Income Tax for Year of Assessment 2019 AND latest Income Tax Assessment; OR
  3. Latest financials of the business; OR
  4. Statutory Declaration Form (SD) sign and witness by Commissioner for Oaths.

 

Note - For customers who are experiencing loss of employment only will be eligible for moratorium

Supporting documents required for Revision of Monthly Instalment request

For Salaried Worker

  • Any one (1) of the following documents:

  1. EPF statement (2021 AND latest EPF statement); OR
  2. Income Tax for Year of Assessment 2021; OR
  3. Latest 1 month salary slip

 

For Self-Employed

  • Any one (1) of the following documents:

  1. Income Tax for Year of Assessment 2021; OR
  2. Latest financials of the business